$TALK
Talkspace, Inc.

2021 Q2 Form 10-Q Financial Statement

#000095017021001074 Filed on August 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $30.98M $17.88M
YoY Change 73.31%
Cost Of Revenue $11.70M $5.570M
YoY Change 110.0%
Gross Profit $19.29M $12.31M
YoY Change 56.71%
Gross Profit Margin 62.25% 68.84%
Selling, General & Admin $40.15M $9.789M
YoY Change 310.18%
% of Gross Profit 208.2% 79.54%
Research & Development $4.781M $2.400M
YoY Change 99.21%
% of Gross Profit 24.79% 19.5%
Depreciation & Amortization $493.0K $20.00K
YoY Change 2365.0%
% of Gross Profit 2.56% 0.16%
Operating Expenses $46.85M $12.95M
YoY Change 261.81%
Operating Profit -$27.56M -$641.0K
YoY Change 4199.69%
Interest Expense $27.56K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$2.870M
YoY Change
Pretax Income -$30.43M -$640.0K
YoY Change 4654.84%
Income Tax $10.00K $6.000K
% Of Pretax Income
Net Earnings -$30.44M -$646.0K
YoY Change 4612.23%
Net Earnings / Revenue -98.25% -3.61%
Basic Earnings Per Share
Diluted Earnings Per Share -$199.9K -$683.90
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $248.2M $1.505M
YoY Change 16389.57%
Cash & Equivalents $248.2M $32.02M
Short-Term Investments
Other Short-Term Assets $4.318M $174.5K
YoY Change 2374.36%
Inventory
Prepaid Expenses $174.5K
Receivables $6.617M
Other Receivables $0.00
Total Short-Term Assets $259.1M $1.680M
YoY Change 15327.36%
LONG-TERM ASSETS
Property, Plant & Equipment $549.0K
YoY Change
Goodwill $6.134M
YoY Change
Intangibles $4.315M
YoY Change
Long-Term Investments $414.0M
YoY Change
Other Assets $98.00K
YoY Change
Total Long-Term Assets $11.10M $414.0M
YoY Change -97.32%
TOTAL ASSETS
Total Short-Term Assets $259.1M $1.680M
Total Long-Term Assets $11.10M $414.0M
Total Assets $270.2M $415.7M
YoY Change -35.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.76M
YoY Change
Accrued Expenses $9.640M $76.67K
YoY Change 12474.02%
Deferred Revenue $7.549M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $28.95M $301.7K
YoY Change 9496.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $98.00K $14.49M
YoY Change -99.32%
Total Long-Term Liabilities $98.00K $14.49M
YoY Change -99.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.95M $301.7K
Total Long-Term Liabilities $98.00K $14.49M
Total Liabilities $67.94M $14.79M
YoY Change 359.33%
SHAREHOLDERS EQUITY
Retained Earnings -$152.0M -$36.39K
YoY Change 417563.87%
Common Stock $15.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $202.3M -$87.35M
YoY Change
Total Liabilities & Shareholders Equity $270.2M $415.7M
YoY Change -35.0%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$30.44M -$646.0K
YoY Change 4612.23%
Depreciation, Depletion And Amortization $493.0K $20.00K
YoY Change 2365.0%
Cash From Operating Activities -$13.91M -$159.7K
YoY Change 8610.47%
INVESTING ACTIVITIES
Capital Expenditures -$130.0K $10.00K
YoY Change -1400.0%
Acquisitions
YoY Change
Other Investing Activities -$414.0M
YoY Change
Cash From Investing Activities -$130.0K -$414.0M
YoY Change -99.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 252.4M 415.7M
YoY Change -39.27%
NET CHANGE
Cash From Operating Activities -13.91M -159.7K
Cash From Investing Activities -130.0K -414.0M
Cash From Financing Activities 252.4M 415.7M
Net Change In Cash 238.4M 1.505M
YoY Change 15740.39%
FREE CASH FLOW
Cash From Operating Activities -$13.91M -$159.7K
Capital Expenditures -$130.0K $10.00K
Free Cash Flow -$13.78M -$169.7K
YoY Change 8020.47%

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us-gaap Interest Paid Net
InterestPaidNet
19000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
111282000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0
CY2020Q4 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
10685000
CY2020Q4 us-gaap Business Combination Consideration Transferred Other1
BusinessCombinationConsiderationTransferredOther1
939000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30983000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0.0pt;font-size:10.0pt;margin-top:18.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Reclassifications</span></p><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company has made certain reclassifications to prior period amounts to conform to the current period presentation within the accompanying condensed consolidated financial statements and notes to the condensed consolidated financial statements.</span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0pt;font-size:10.0pt;margin-top:18.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of estimates</span></p><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of consolidated financial statements, in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company evaluates its assumptions on an ongoing basis. The Company’s management believes that the estimates, judgment, and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</span></p>
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
152255736
CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
33480000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17877000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
58140000
CY2021Q2 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
Each whole Warrant entitles the registered holder to purchase one share of the Company’s common stock at a price of $11.50 per share, at any time commencing 30 days after the closure of the Business Combination.
CY2021Q2 talk Warrants And Rights Outstanding Expiration Period
WarrantsAndRightsOutstandingExpirationPeriod
P5Y
CY2021Q2 talk Redemption Trigger Share Price
RedemptionTriggerSharePrice
18.00
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28997000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.39
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17987755
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
12272727
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.60
CY2021Q2 talk Conversion Of Stock Conversion Rate
ConversionOfStockConversionRate
1.134140
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
20525332
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.71
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y9M3D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
153934000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1013759
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.64
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3302831
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.59
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
248505
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.11
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y11M12D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
129440000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y1M28D
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
94584000
CY2021Q2 talk Conversion Of Stock Conversion Rate
ConversionOfStockConversionRate
1.134140
CY2021Q2 talk Warrants Issued
WarrantsIssued
650000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15196000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
332000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16709000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
733000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P4Y
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-30441000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-646000
us-gaap Net Income Loss
NetIncomeLoss
-43179000
us-gaap Net Income Loss
NetIncomeLoss
-8546000
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26362369
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
13367502
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20097094
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
13334965

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